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Escrow and Paymaster Frequently Asked Questions

Published on: September 21, 2020 | By Hart David Carson LLP

High-risk transactions often require the use of paymaster and escrow services. People often have questions about escrow and related services, the most common of which will be addressed here.

Who Pays Escrow Fees?

When it comes to escrow fees, there is no set rule or law that dictates who should pay them. As such, it ultimately comes down to the terms of the purchase contract. Often, escrow fees are split evenly between the buyer and the seller, but there may be instances where one party may be able to negotiate for having the other party pay them in full.

When to Use Trade Secrets Rather than Patents

Published on: September 1, 2020 | By Hart David Carson LLP

If you’re a small business with an invention, process, formula, or similar type of intellectual property, you may balk at the cost of patenting it. In some cases, keeping it as a trade secret may be a preferable option to filing for a patent.

Difference between Trade Secrets and Patents

Patents are official government licenses that give you exclusive rights to profit off of your inventions for a set period of time. It covers such items as manufacturing, reverse engineering, or selling your invention.

Can My Employer Opt Out of Providing Workers’ Compensation in Illinois?

Published on: August 19, 2020 | By Hart David Carson LLP

Under Illinois law, the vast majority of employers must provide workers’ compensation coverage for their employees. As such, employers in the state can’t usually “opt out” of providing coverage or carrying workers’ comp insurance, though there may be some cases where an employer may elect not to provide coverage.

Industries that Must Provide Workers’ Compensation

The Illinois Workers’ Compensation Act allows employers to provide workers’ compensation coverage in exchange for being free from liability for workplace accidents (meaning employees usually can’t sue them for injuries sustained on the job). In some industries, this coverage is mandatory. The Workers’ Compensation Act is considered to automatically apply to industries involving:

How Much Are Fireworks-Related Injuries Worth?

Published on: July 6, 2020 | By Hart David Carson LLP

Every year, nearly 13,000 people are injured by fireworks. Most of those fireworks are legal, though injuries may result from the negligent actions of another person. In those cases, there may be grounds for a personal injury lawsuit.

Calculating the Worth of Firework-Related Injuries

Personal injury lawsuits resulting from fireworks include various types of damages. As such, if you’ve been injured by negligent use of fireworks, or if the fireworks used were defective, you may be entitled to the following:

How Does the Escrow Process Work in Real Estate Transactions?

Published on: July 2, 2020 | By Hart David Carson LLP

In the course of real estate transactions, funds are held in escrow in order to keep them secure and to protect the interests of the parties involved in the transaction. The process itself is governed by many rules, but it can be broken down into some basic steps.

What Is Escrow?

In it’s most basic sense, “escrow” refers to money being held by a third party (i.e. someone apart from the buyer and the seller) during a transaction. When someone buys a property, they place funds in an escrow account, and those funds are held there until the terms of the purchase agreement are completely finalized. Funds are released and the title to the property is transferred once the parties in the transaction fulfill the terms of the agreement.

How Much Is a Coronavirus Workers’ Comp Claim Worth?

Published on: June 24, 2020 | By Hart David Carson LLP

Those who have become exposed to the novel coronavirus while on the job may be entitled to workers’ compensation, particularly when it impacts their ability to work and warrants medical treatment. However, it begs the question of how much these claims are actually worth. If your claim settles, how much would the payout be?

The simple answer is that it’s a bit early to tell just yet.

Settlements on Coronavirus Claims Are Uncertain

Tax Planning During a Crisis: How COVID-19 May Impact Your Taxes

Published on: June 19, 2020 | By Hart David Carson LLP

Many of the various reliefs and incentives put out by the government are intended to help ease the burdens of individuals and businesses alike. Whether you’re a high net worth individual with a complex financial scenario or a small business owner trying to make ends meet during an economic lull, the pandemic will likely impact your tax situation.

Tax Deadlines Postponed

One of the reliefs extended by the IRS is an extension on tax deadlines. Taxes and returns that were due in April are now due by July 15th. If more time is still needed, individuals and businesses are able to extend that deadline further by filing an extension.

Workers’ Compensation and Wrongful Death in Illinois

Published on: June 11, 2020 | By Hart David Carson LLP

Workplace accidents can sometimes be fatal, but even if the employer was at fault, a lawsuit may not be possible due to the way workers’ compensation law works. In Illinois, workers (or in this case, their families) cannot sue the employer for negligence in these cases. However, there may be a possibility for a wrongful death lawsuit if other parties were involved in the injury.

The Workers’ Compensation Trade-off

Illinois workers’ compensation law is something of a trade-off. Employees cannot sue their employer for their injuries (except in certain rare cases), and employers are obligated to carry workers’ compensation insurance. Workers’ compensation benefits are provided regardless of fault, which means that while the employer may not necessarily be directly liable for a workplace injury, they are still responsible for covering the cost of those injuries.

Do I Have a Case if I Get Sick at the Hospital?

Published on: June 3, 2020 | By Hart David Carson LLP

Given the concentration of illness present at many healthcare facilities, it’s important for them to take stringent measures to prevent the spread of disease such as COVID-19 and common hospital infections. If you fall seriously ill as a result of being treated at a hospital, you may have a case, though there are factors that could keep you from recovering damages.

Note that during the coronavirus pandemic in Illinois, any healthcare facility that provides care or assistance for those who have contracted COVID-19 has some immunity to liability, so if your illness dates to this time, you likely won’t be able to recover damages.

Cases Involving Medical Infections

COVID-19 and Intellectual Property

Published on: June 1, 2020 | By Hart David Carson LLP

Most facets of life have been impacted by COVID-19, including the way we handle intellectual property. From enforcing IP protections to safeguarding trade secrets, the pandemic has introduced a number of changes.

Impact on IP Used in Remote Business Operations

For companies that have transitioned to remote work-forces, the way trade secrets and other sensitive information is protected has to adapt. Many businesses have had to adjust their current IP protection policies and implement new technologies and practices in order to keep trade secrets safe when being used by home-based employees.